At Continuum we are looking at the cost of inheritance tax, or IHT and at ways to avoid the taxman being the biggest beneficiary of your life insurance.
The loss of a close relative can be traumatic, and things can be very much worse if there are financial questions. Probate is the process of answering those questions and conjures up images of Dickensian courtrooms, long and protracted legal arguments and delays, where long lost relatives fight over assets and everybody loses apart from the lawyers.
There is something else we need to look at โ planning how we will transfer our wealth to the next generation when we will be using it no more. This is estate planning. Like every other aspect of finances, in the wake of the coronavirus, it may need a fresh look.
We all know we need to make a Will, but as many as 60% of UK population seem to put it off, probably because they prefer to believe that there is plenty of time to make the arrangements they need.
If you have children, grandchildren โ or even great grandchildren – youโll probably want to give them financial help to deal with the challenges of life. Whatever the age of the children you are investing for, we can work with you to find the most appropriate investments and avoid the tax pitfalls.